Homes in are area are foreclosing in the masses. Our income was recently cut in half. The house will not sell, other homes are not selling either. Can’t refinance without options because the home is worth 100k less than the mortgage. We’re stuck. Our bank is opting out of this plan: “HOPE for Homeowners (H4H) is a program designed to assist borrowers at risk of default or foreclosure in refinancing to an affordable 30-year fixed rate FHA loan. The program is effective October 1, 2008 and will conclude on September 30, 2011.”
Any ideas?

Yes, HUD can help. There are programs in place today for homeowners that are in trouble. You have to be at least 3 months behind for most of them, but even if you are not try to get help now! If you did not have any luck going directly to your lender, do a Google search for HUD or FHA mortgage modification programs.

am a couple months behind on my payments and want to sell now. am not looking to make a profit just need to get what i owe.

I have a townhome in Miami and need to sell it since Countrywide has increased the payments from 2,500 to 3,400. I just cant pay this property and now I have to sell it ASAP. I havent been able to pay for over 4 months and now that I finally have a buyer Countrywide is sending a payoff of over $326k when it was suppose to be $295k!!! They want to charge me penalties and other stuff but I am trying to avoid a foreclosure .. why cant they work with me here and waive some of the penalties or costs ??? Somebody help me … any advice?

Your mortgage company does not want to foreclose on your home. Call them and tell them your problem. (Are you looking for a new job or health problem?) They may be able to add your missed payments on to the back end of your note, or help you arrange a “short sale” or anyone of dozens of ideas.
They will be upset that you are not making your payments and may suggest some bad ideas (like making your payment using your credit card). But do talk with them if you are wanting to avoid foreclosure.

my sister has missed her house payment for a few months now because my brother in-law lost his job but she wants to save her house what should she do? or is there a company that can help? she needs to come up on $5,0000 with in 30 days

I was forced to work part-time because of a tick bite and I was striken with Lyme dieaease. I didn’t think a small insect could do some much harm. Any way, my husband works 24/7, but that is not enough and now we might loose our home. We tried to talk with our mortage co., and we even tried for a hardship loan which was suggested by our own company. They told us NOT to pay our payments for a couple of months and that way it would look even better for the hard ship loan. Then they turned us down and now we are 4 months behind. Little did we know that, I guess some mortage co. will do that so you get behind and loose your house to them. That’s awful!! Anyway, if any one knows of someone that could help either stop the foreclosure (with no money down) or of another way to save our home I would really appreciate it. Thanks!

You should first try to work out something with your current mortgage company. See if they won’t refinance your loan and add the 5 months to the end. Before things get any worse, you could consider selling now. But you’re close now to the foreclosure notice. Best to contact your loan company tomorrow and try to work this out.

The answer to almost every question is: “Depends”
Look at www.NACA.com and see if they can help you.

It depends on many factors. You can apply for a loan modification if you have income. You can file Chapter 13 Bankruptcy to delay the foreclosure sale. If you are over 62 years of age and have sufficient equity in your real estate, you can get a reverse mortgage.
If the foreclosure process has begun, you might consider a cash-for-keys program.
Details are here:http://how2avoidforeclosure.blogspot.com

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